Regulacje i polityka gospodarcza · 15.12.1994

Limitation on Guaranteed Benefits in Single-Employer Plans

This rule amends appendix A of the Limitation on Guaranteed Benefits regulation of the Pension Benefit Guaranty Corporation (``PBGC'') by adding the maximum guaranteeable pension benefit that may be paid by the PBGC with respect to a plan participant in a single- employer pension plan that terminates in 1995. The maximum guaranteeable benefit is computed in accordance with the formula in section 4022(b)(3) of the Employee Retirement Income Security Act of 1974, which provides that the maximum guaranteeable benefit is based on the contribution and benefit base determined under section 230 of the Social Security Act. The latter number is adjusted annually, and that adjustment automatically changes the dollar amount of the maximum guaranteeable benefit paid by PBGC. The effect of this amendment is to advise plan participants and beneficiaries of the increased maximum guaranteeable benefit for 1995.